N e w s

While due to the fact that according to the agreement with Russian State Treasury "GOKRAN", "Norilsk Nickel" has to stop supplying palladium onto international market, the company decided to take a more diverse business position in regard to the precious metals market and to increase its gold mining. Supplies of Russian palladium abroad were stopped back in the end of last year due to the low prices for this metal.

Nowadays Norilsk Nickel is in a position of monopolist for platinum and palladium mining in Russia; Russian share on the global precious metals market is 60% palladium, 20% platinum.

In the meantime, Norilsk Nickel though of increasing its gold production. According to Yuri Kotlyar, "the risk of losses is the lowest in this particular area". The final policy of its gold business Norilsk Nickel will be approved in the autumn alongside with its development strategy.